AL SB281

Defines the "Coastal Area" as Zones 1, 2, 3, and 4 as designated by the Alabama Insurance Underwriting Association, replacing the previous "Beach Area" definition.

Establishes two credit units for voluntary insurance writings in the Coastal Area: Unit One (Zones 1, 2, and 3) and Unit Two (Zone 4), with credits calculated separately for each unit.

Provides 100 percent credit for fire insurance policies, 75 percent credit for homeowners and mobile homeowners policies, and 50 percent credit for commercial multi-perils policies.

Excludes policies without wind and hail coverage and farm premiums from eligibility for credit in the Coastal Area.

Becomes effective on the first day of the third month following passage and approval by the Governor.